U.S. stocks stumble as default looms

NEW YORK, MarketWatch (08/10) -- U.S. stocks declined on Monday, with the S&P 500 index closing at a four-week low, as a stalemate on Capitol Hill over preventing a government default persisted. 'It's a very dangerous game of chicken going on and no resolution in sight, although that can change quickly. This is the logical reaction: you should avoid any risk in the middle of the process,' said Art Hogan, market strategist at Lazard Capital Markets. At 4:02 p.m. Eastern, the Dow industrials had lost 136.47 points to 14,936.11. The S&P 500 index shed 14.38 points to 1,676.12. The Nasdaq Composite declined 37.38 points to 3,770.38. http://www.marketwatch.com/story/us-stocks-stumble-as-default-looms-2013-10-07